Honda Motor Company, Ltd. (HMC) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Honda Motor Company, Ltd. (NYSE:HMC) from a hold rating to a sell rating in a report issued on Friday morning.

According to Zacks, “Honda’s earnings and revenues beat the Zacks Consensus Estimate in the fiscal second quarter. Compared with the year-ago figures, the company’s earnings per share were lower, whereas the revenues were higher. The company has been recalling vehicles for safety issues, which is adding to its expenses. High R&D expenses and unfavorable foreign currency translation issues are other headwinds Honda has been facing. Further, it has provided weak income guidance for fiscal 2018. Also, in the last six months, its shares have been underperforming in the industry it belongs to.”

A number of other research firms have also issued reports on HMC. ValuEngine raised Honda Motor from a hold rating to a buy rating in a report on Thursday, November 9th. Jefferies Group LLC restated a buy rating and issued a $36.36 price objective on shares of Honda Motor in a research report on Friday, October 13th. BidaskClub upgraded shares of Honda Motor from a strong sell rating to a sell rating in a research report on Thursday, August 3rd. Instinet upgraded shares of Honda Motor from a reduce rating to a neutral rating in a research report on Tuesday, August 1st. Finally, Morgan Stanley downgraded shares of Honda Motor from an overweight rating to an equal weight rating in a research report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Honda Motor has a consensus rating of Hold and an average price target of $34.18.

Honda Motor (NYSE HMC) traded down $0.12 during midday trading on Friday, hitting $32.81. The company had a trading volume of 1,049,500 shares, compared to its average volume of 660,134. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.23. Honda Motor has a 52-week low of $27.05 and a 52-week high of $33.75. The stock has a market capitalization of $59,650.32, a price-to-earnings ratio of 10.39, a P/E/G ratio of 3.09 and a beta of 1.05.

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A number of large investors have recently made changes to their positions in HMC. IFP Advisors Inc lifted its position in Honda Motor by 13.2% in the second quarter. IFP Advisors Inc now owns 4,884 shares of the company’s stock valued at $134,000 after purchasing an additional 571 shares during the period. Pacad Investment Ltd. lifted its position in shares of Honda Motor by 6.3% during the 2nd quarter. Pacad Investment Ltd. now owns 5,100 shares of the company’s stock valued at $140,000 after acquiring an additional 300 shares during the period. SG Americas Securities LLC lifted its position in shares of Honda Motor by 7.3% during the 2nd quarter. SG Americas Securities LLC now owns 5,552 shares of the company’s stock valued at $152,000 after acquiring an additional 377 shares during the period. Smithfield Trust Co. lifted its position in shares of Honda Motor by 7.9% during the 2nd quarter. Smithfield Trust Co. now owns 6,448 shares of the company’s stock valued at $176,000 after acquiring an additional 470 shares during the period. Finally, Raymond James Trust N.A. acquired a new stake in shares of Honda Motor during the 3rd quarter valued at approximately $204,000. Hedge funds and other institutional investors own 2.60% of the company’s stock.

Honda Motor Company Profile

Honda Motor Co, Ltd. (Honda) develops, manufactures and markets motorcycles, automobiles and power products across the world. The Company’s segments include Motorcycle Business, Automobile business, Financial services business, and Power product and other businesses. The Company produces a range of motorcycles, with engine displacement ranging from the 50 cubic centimeters class to the 1,800 cubic centimeters class.

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